Financial Crises

Op-Ed

Bernanke's 'Risk-On, Risk-Off' Monetary Policy

Authors: Benn Steil and Dinah Walker
Wall Street Journal

Benn Steil's Wall Street Journal op-ed, co-authored with Dinah Walker, shows that the Fed has effectively been targeting "risk on, risk off"—prodding investors into and out of risky financial assets—for over a decade now. He derives a rule that predicts the Fed's behavior since 2000 even better than the "Taylor Rule" did from 1987 to 1999.

See more in Financial Crises; Monetary Policy; United States

Audio

Corporate Teleconference: Robert Rubin and Fred Bergsten on the Eurozone

Speakers: Robert E. Rubin, C. Fred Bergsten, and Sebastian Mallaby

Former U.S. Treasury Secretary and CFR Co-Chair Robert E. Rubin, CFR Senior Fellow Sebastian Mallaby, and Peterson Institute for International Economics Director C. Fred Bergsten discuss the European Central Bank's bond purchasing plan and the German constitutional court decision on the European Stabilization Mechanism with Foreign Affairs' Managing Editor Jonathan D. Tepperman.

See more in EU; Financial Crises